(Figure: Price Ceiling 0) in the Above Figure, What Is

question 33

Multiple Choice

(Figure: Price Ceiling 0) In the above figure, what is the equilibrium price?

• A) $25
• B) $30
• C) $35
• D) $50

---

Definitions:

Chart of Accounts

An organized list of all ledger account titles and numbers used by a company, detailing all transactions' recording places.

General Ledger

A comprehensive record of all financial transactions of a company, systematically organized by accounts.

Net Income

The remaining earnings of a company following the deduction of all expenses and taxes from its total income.

Deferred Revenue

Income received by a company for goods or services yet to be delivered or performed, recorded as a liability on the balance sheet.